Horse owners today praised a new law signed by Gov. Cuomo that extends the same legal protections and tax assessment benefits to commercial equine operations that commercial horse boarding operations currently enjoy.
“This legislation is great news for horse businesses, which are a thriving and growing segment of the rural economy,” said Dean Norton, President of New York Farm Bureau.
“Farm Bureau worked hard to champion this bill and we are grateful to Sen. Patty Ritchie and Assemblyman Bill Magee for their sponsorship and efforts in pushing it through,” he said.
Up until now, farms that provide horse training, trail riding and riding lessons were excluded from agricultural district protections and agricultural tax assessments. But breeding and commercial horse boarding operations were eligible.
The law fixed the disparity by expanding the horse operations eligible for protections.
The equine industry is an important sector of the agricultural and rural economy. New York is a big horse state. The equine industry has a value of $1.83 billion, with total equine-related assets estimated at $10 billion, according to the last National Agricultural Statistical Service’s Equine Survey from 2005.
Much of the sector’s value comes from revenues generated by providing equine services, such as boarding, trail riding, riding lessons, training and therapeutic riding.
“This legislation fixed a big inadequacy in agricultural assessment laws among horse operations and is profound investment in the equine industry in New York State,” Norton said.